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What are you using for taxes this year?

woods

woods

I probably did it wrong.
Joined
May 22, 2020
Member Number
1120
Messages
5,165
Just curious what folks are using. My situation isn't complicated enough to require a tax person, yet. I priced it out last year, and they wanted $300 to do it.

Used TurboTax for the longest time, but then they started charging for crap. I think I used FreeTaxUSA or something last year. I can't remember.

Any suggestions?
 
I've been using Tax Act and always been happy with it.
 
Best thing we ever did was start using a tax guy. He's like ~$200 and has saved us thousands.

Using these stupid apps is the definition of tripping over a dollar to pick up a dime.
 
The IRS website to download forms and instructions, a pencil, a calculator (or abacus), some scratch paper and worksheets, and a little time and brainpower.

And that's while running two sole proprietorships.

I don't get the need everyone has for software to do 4th grade mathematics.
 
YotaAtieToo said:
Best thing we ever did was start using a tax guy. He's like ~$200 and has saved us thousands.

Using these stupid apps is the definition of tripping over a dollar to pick up a dime.
Click to expand...

expand on this for me. I have always used Turbo tax. we are a two income household. a home mortgage and some kids are the only expenses i know of that the govt cares about. we make some cash donations to charities. you can no longer write off home offices or expenses so that is out the window.

What to real tax preparers do that turbo tax is leaving on the table? i can spend ~$60 on TT software and a couple hundred on the person to prepare the taxes.
 
midwestzj said:
expand on this for me. I have always used Turbo tax. we are a two income household. a home mortgage and some kids are the only expenses i know of that the govt cares about. we make some cash donations to charities. you can no longer write off home offices or expenses so that is out the window.

What to real tax preparers do that turbo tax is leaving on the table? i can spend ~$60 on TT software and a couple hundred on the person to prepare the taxes.
Click to expand...

no longer write off home office expenses? That's news to me.

I use a tax person and will use her until she no longer wants to work with me. Spent a small fortune on her, but she found things TurboTax never did... and it was worth every penny.
 
rockota said:
no longer write off home office expenses? That's news to me.

I use a tax person and will use her until she no longer wants to work with me. Spent a small fortune on her, but she found things TurboTax never did... and it was worth every penny.
Click to expand...

when they raised the standard deduction they took away things like home office write off and the such if you just work remote.

There's a lot of confusion around the home office deduction because many remote workers who took the break in the past are no longer eligible – the Tax Cuts and Jobs Act eliminated the home office deduction for employees who work from home for an employer. But self-employed people can still take the break if their home office qualifies. "I had to explain to a client why she, as an employee, lost the deduction, and yet her husband, who was a freelancer, kept his," says Morris Armstrong, an enrolled agent in Cheshire, Connecticut (enrolled agents are authorized to represent taxpayers in front of the IRS).
Click to expand...
 
midwestzj said:
when they raised the standard deduction they took away things like home office write off and the such if you just work remote.
Click to expand...

Ah... interesting.... I was not aware.
 
midwestzj said:
when they raised the standard deduction they took away things like home office write off and the such if you just work remote.
Click to expand...

Indeed.

I love being self-employed. I get to keep all the deductions on the business side (including home office), then use the now-doubled standard deduction on the personal side for even more creditable "refunds." I have become more of a tax-taker, rather than a tax payer under the new laws.
 
I’ll second the cpa! I used to hang out with the guy that does ours. He knows just how far you can bend the rules and not get audited. We have an LLC thrown in the mix though. Worth every penny. :smokin:
 
CPA, it's about $300 and worth it for us.
 
Cpa. I need to find one asap down here. My taxes are going to be a fucking mess this year.
 
CPA? Really? Its just wife and I. One kiddo. Pretty basic stuff. :confused:

We have the rentals, but its all plug and play for online stuff.
 
Mr Stubs said:
Ya, but you don’t know what you don’t know...
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hrm. I mean, I pay ~$50 online to do it. Not really sold on a CPA finding $250+ in additional stuff to cover the $300 fees. I mean, are they really able to find that much?
 
Used HRBlock online for years till two years ago when I went to a tax pro to see if I am missing stuff. Paid $250 for the same return amount as the previous year. Went back to HRBlock online and tax return amounts have not changed.
 
woods said:
hrm. I mean, I pay ~$50 online to do it. Not really sold on a CPA finding $250+ in additional stuff to cover the $300 fees. I mean, are they really able to find that much?
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Some will do a review of previous returns as a demonstration
 
i will always use a cpa. on time invested alone. its not worth my time to mess with.

my guy is an ex IRS agent, works from noon to midnight, and has occasionally in the past had to dip out to go to rehab. hes good and very informative. he does the taxes and when we talk he helps me make my game plan for the next year. after using him for the past 15years i'm sure i could file for my self on the simpler years, but the having someone who knows your biz and does what he does is worth every penny.


and dont confuse a CPA with see an hr block tax preparer. no the same thing at all. i think everyone should have a cpa, for the small cost its cheap peace of mind. if even if they doent save you more this year they will over time, and help shape spending year to year to help maximize tax returns
 
Poopyface said:
Used HRBlock online for years till two years ago when I went to a tax pro to see if I am missing stuff. Paid $250 for the same return amount as the previous year. Went back to HRBlock online and tax return amounts have not changed.
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I always question whether i should use a CPA because of the "you don't know what you don't know" as Mr Stubs said. I already ran my numbers through Turbo Tax this year, and i may pay a CPA to run them. if they come out the same, then i lost $150 this year. if they come out better, then its money well spent
 
Mine were easy this year, standard deduction and done. I use turbo tax, most years I used the payed version but this year I just used the free version since I sold my rentals off.
 
woods said:
hrm. I mean, I pay ~$50 online to do it. Not really sold on a CPA finding $250+ in additional stuff to cover the $300 fees. I mean, are they really able to find that much?
Click to expand...

if you have rentals, you're likely missing out.

My CPA is awesome - and she's expensive. But last year she got us a great return - first time in a decade + that I didn't have to pay. The ROI on the money invested with her has been almost 20:1. TurboTax is fine, but it doesn't really help with scenarios, nuances or tax avoidance.

Even if our ROI was only enough to cover her fees, I'd still do it.
 
Used Jackson Hewitt the last few years.IIRC $50 for state and fed e-filed. Filled out the forms and filed early this year, thought I had the payment date set far enough out in advance for the e-file (owed $1.00 to each state and fed). Found out when it bounced back as denied that the Fed didn't start accepting e-file until the 11th. Resubmitted the next day and they went right through.
 
woods said:
CPA? Really? Its just wife and I. One kiddo. Pretty basic stuff. :confused:

We have the rentals, but its all plug and play for online stuff.
Click to expand...

Any time I have to deal with the long dick of the government being plunged deep into my ass I want some lube, I view a CPA as the lube. The gov will fuck me if they want to, it will hurt less with a CPA. It's not about saving money for us it's about representation in the event something goes side ways. Same reason I would never represent my self in court.

It's just my wife and I and we always used one, drop our shit off and pick it up a few days later.
 
we use an accountant. my taxes used to be complicated. they aren't too complicated anymore, but, we love the guy who does them, he is efficient, no hassle and the price is fair.
 
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